Greece Financial Independence Visa (Type D) vs Spain Non-Lucrative Visa
A factual side-by-side comparison of two residency programmes. All figures are drawn from the canonical program pages — follow either link in the table header for sources and the full profile.
Key Differences at a Glance
- ›Faster to citizenship: Greece Financial Independence Visa (Type D) at ~7 years, vs 10 for Spain Non-Lucrative Visa.
- ›Lower income bar: Greece Financial Independence Visa (Type D) requires $2,200/mo; Spain Non-Lucrative Visa requires $2,800/mo.
Greece Financial Independence Visa (Type D) Greece · retirement | Spain Non-Lucrative Visa Spain · passive income | |
|---|---|---|
| Country | Greece | Spain |
| Category | Retirement | Passive Income |
| Application Fee | $165 | $160 |
| Minimum Income | $2,200 /mo | $2,800 /mo |
| Minimum Investment | — | — |
| Processing Time | 3 months | 3 months |
| Family Included | An additional 20% of the base income requirement applies per dependent spouse or child | Additional €600/month per dependent family member |
| Path to PR | Yes — 5 years | Yes — 5 years |
| Path to Citizenship | Yes — 7 years | Yes — 10 years |
| Physical Presence | Must reside primarily in Greece; the permit is initially issued for 2 years and renewable in 3-year increments. Must not be absent from Greece for more than 6 consecutive months, or 10 months cumulatively, in any permit period. | Must spend at least 183 days per year in Spain to maintain residency and advance toward permanent residency |
| Dual Citizenship | Allowed | Not allowed |
| Tax Impact | Retirees who transfer their tax residency to Greece may benefit from Greece's flat 7% tax rate on all foreign-sourced pension income for up to 15 years, available to those who were not Greek tax residents in 5 of the preceding 6 years. No work is permitted on this visa. | Spending 183+ days in Spain triggers Spanish tax residency; foreign income may be taxed. The Beckham Law may provide a 24% flat tax rate for qualifying newly arrived residents for up to 6 years. |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Yes |
| Renewal Cost | $165 | $200 |
About Greece Financial Independence Visa (Type D)
Greece's Financial Independence Visa (Type D) allows non-EU nationals with sufficient passive income from foreign sources to reside in Greece without engaging in local employment. Holders may benefit from Greece's exceptional 7% flat tax regime on all foreign pension income, making it one of the most tax-efficient retirement destinations in the EU. After five years of legal residence, holders may apply for permanent residency, and Greek citizenship is accessible after seven years.
Full Greece Financial Independence Visa (Type D) profile →About Spain Non-Lucrative Visa
Spain's Non-Lucrative Visa is a residency permit for individuals who can financially support themselves without engaging in any work or business activity in Spain. Applicants must demonstrate sufficient funds — approximately €2,400 per month or €28,800 per year — along with private health insurance with full coverage in Spain. The visa grants residency for one year, renewable for two-year periods, and provides a path to permanent residency after five years and Spanish citizenship after ten years of legal residence.
Full Spain Non-Lucrative Visa profile →Gotchas to Watch For
Greece Financial Independence Visa (Type D)
- ⚠Greek citizenship requires 7 years residence + B1 Greek + civic test — significant barrier vs Portugal A2 requirement
- ⚠Pensioner tax regime only applies to foreign pension income
- ⚠Schengen 90/180 rule does not apply to Greek residents — Greek permit grants full residency rights
Spain Non-Lucrative Visa
- ⚠NLV prohibits any work, including remote work for foreign employers (Spain strictly enforces this)
- ⚠Spain does not allow dual citizenship with most countries — naturalising usually requires renouncing original citizenship
- ⚠Physical presence of 183+ days triggers worldwide income taxation
- ⚠Health insurance must have no co-pays and no coverage limits — a common rejection reason
- ⚠Renewal at 1 year requires 2 years of funds on hand for next period
Neutral reference — we don't recommend one programme over another. Programmes change: always verify each detail against the official source linked on the individual program pages.